I am still open for wave -2 completion which will be done with the push in the form of ((y))-wave in yet to complete wave-2 but this time we have a harmonic bullish crab pattern as well at lows@351- which can give us little confidence.
Trading Strategy Either we will wait for prices to cross 360 & sustain above that level as the entry point or we look for entries close to the 351-353 zone with strict stops below 351.
Target Zone Initial Target Zone once it crosses 365 shall be 375-377 - Next 385-387
Its struggling in 359-362- better we wait for 2-3 points more on upside & sacrifice some bit more. Either enter close to 351 may be in the range 352-355 or above 363-364 zone if sustains above.
Reached initial target of 375-377 as suggested from 353-355 -- Almost 20 -23 bucks --Awesome!!!
Trade active
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09:44 Hrs 20th feb2017
Last Price@374.75
Now I am out of this call & shall sit outside to see how it reacts next.
Trade closed: target reached
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13:51 Hrs 20th Feb2017
Last price@385
Exploded upside. Missed -got stuck at work.
Comments
VimalVashisth
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unbelievable analysis ur hardwork honesty n intellegency i salute u.....
bibz4trade
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Awesome !!
Niks99
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Awesome analysis as always...thanks for sharing...
Subra1953
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Awesome!!! Great Trade Set up. Thanks heaps and apprecoiate
VPS
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A huge volume of 2 lakh shares on today's 5 minute chart around 10:25. Does this indicate anything? Do you look at volume in your analysis?
WaveTalks
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@VPS, At times not on regular basis - short term definitely no - volume on hour charts -most never cheat. Yes,Guys could be interested to buy from 350-360 zone which can be short term bounce as suggested . we are looking for that bounce & searching for entry point.
Prince_Kanodia
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Thanks abhishek for the update. Will eagerly look into for the trade either at 353 levels or let cross 365. One dip towards 355 is possible for sure, would give short frame bottom. Will follow strict SL of 351 as suggested. Any views on Apollo hospitals?
Regards,
Prince
AMBRISH
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Jet airways is ban from trading in FNO.
neneram
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@AMBRISH,
Yep Its Ban: market wide positional limit reached , only existing players can square off , No new open interest can be created till position fall below positional limits